Someone is saying that the interest on fixed depost is taxable and some one is saying that interest upto Rs 10,000/- is exempted but nobody is clear that either interest received from saving bank account and interest received on fixed deposit has to be clubbed and the interest upto Rs 10,000/- will be exempted under section 80TTA. It may be claried as follows:-
(a) Interest on fixed deposit either exempted u/s 80TTA or not.
(b) It is clear interest received on saving account is exempted upto Rs 10,000/-